LG Electronics India Ltd (LGEINDIA)

Consumer Durables · Consumer Durables · NSE · Updated 1 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹1,697.7

🎯 Key Takeaways

LG Electronics India is in a phase of strategic expansion and margin-led growth, supported by strong execution in home appliances and home entertainment segments. Management is confident in achieving mid-teen revenue growth and early double-digit EBITDA margins for FY27, driven by export momentum, localized manufacturing, and scaling of B2B and AMC businesses.
Revenue declined 10.2% QoQ to ₹7,233 in Q1FY27.
⚠️ Margin pressure from intense competition and pricing discipline in a crowded consumer durables market, despite management’s mitigation efforts.

Market Cap

₹1.15 L Cr

P/E Ratio

63.1

P/B Ratio

15.03

ROE

23.8%

ROCE

33.0%

Debt/Equity

0.00

Promoter

85.0%

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📖 The Story

LG Electronics India is in a phase of strategic expansion and margin-led growth, supported by strong execution in home appliances and home entertainment segments. Management is confident in achieving mid-teen revenue growth and early double-digit EBITDA margins for FY27, driven by export momentum, localized manufacturing, and scaling of B2B and AMC businesses.

📰 What's Happening

In Q1 FY27, LG Electronics India reported revenue of ₹72.33 billion, up 15.5% YoY, with EBITDA margin expanding to 12.5% from 11.4% YoY, reflecting operating leverage and premium product mix. Management highlighted sustained demand across segments, export growth, and scaling of B2B and AMC businesses as key growth enablers. The company also held its 29th Annual General Meeting on August 21, 2026, where all resolutions — including approval of audited financials, appointment of Deloitte as statutory auditor, and Dhananjay Shukla as secretarial auditor — were passed via remote e-voting and in-person participation. The board approved unaudited Q1 FY26 results showing revenue of ₹73,280.85 lakhs and profit of ₹6,528.63 lakhs, up from ₹62,629.38 lakhs and ₹5,132.55 lakhs respectively in Q1 FY25.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	6,263	6,174	4,114	8,054	7,233
Operating Profit	626	454	85	844	792
OPM %	10.0%	7.3%	2.1%	10.5%	11.0%
Net Profit	513	389	90	693	653
EPS	₹7.56	₹5.74	₹1.32	₹10.21	₹9.62

The company has demonstrated consistent top-line growth and improving profitability, with Q1 FY27 revenue rising to ₹72.33 billion from ₹62.63 billion in the same quarter last year, and profit increasing to ₹653 crore from ₹513 crore. Operating margin improved to 11.0% in June 2026 from 10.0% in June 2025, indicating better cost control and pricing discipline. Despite seasonality evident in December 2025 (rev ₹4,114 crore, OPM 2.1%), the sequential recovery in margins and profitability from December to March 2026 underscores effective operational management and scale benefits.

🔮 Management Outlook & What's Next

Management remains constructive on the FY27 outlook, citing intact demand momentum, strengthening product mix, export ramp-up, and scaling of B2B and AMC businesses as key growth drivers. They reaffirmed confidence in achieving mid-teen revenue growth and early double-digit EBITDA margin targets, emphasizing proactive margin protection through pricing discipline, operational efficiencies, and localization. No formal guidance beyond these targets was provided, but confidence is underpinned by execution capabilities and diversified growth engines.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2026	Mar 2026
Equity Capital	679	679	679
Reserves	5,291	6,194	6,987
Borrowings	428	473	0
Total Liabilities	11,517	12,617	13,636
Fixed Assets	1,320	1,439	1,561
Investments	0	0	0
Total Assets	11,517	12,617	13,636

The balance sheet reflects a strong capital structure with zero net borrowings as of March 2026, supporting financial flexibility. Equity remains stable at ₹679 crore, while reserves have grown from ₹5,291 crore in March 2025 to ₹6,987 crore in March 2026, indicating retained earnings and reinvestment of profits. The absence of debt enhances resilience amid macroeconomic headwinds, and the steady growth in total assets — from ₹11,517 crore in March 2025 to ₹13,636 crore in March 2026 — signals disciplined asset expansion without leverage.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2026
Operating	+1,721
Investing	-856
Financing	-127
Net Cash Flow	+737

👥 Shareholding Pattern

Category	Q3FY26	Q4FY26	Q1FY27
Promoters	85.0%	85.0%	85.0%
FII	3.0%	2.7%	3.1%
DII	7.2%	8.0%	7.8%
Public	4.2%	3.7%	3.5%
# Shareholders	10,93,845	9,73,763	9,19,561

Promoter holding remains stable at 85% over the past three quarters, indicating long-term commitment. Institutional interest has fluctuated slightly, with FII shareholding rising from 2.73% in Q4FY26 to 3.13% in Q1FY27, while DII increased from 7.15% to 7.84%. The number of public shareholders has declined slightly from 10,93,845 to 9,19,561, but this may reflect consolidation rather than exit. No pledging or significant dilution signals are evident, and the shareholder base remains broad-based.

⚖️ Peer Comparison — Consumer Durables

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
LGEINDIA	1.15 L Cr	63.1	33.0%	23.8%	0.00
DIXON	89,949	42.8	84.1%	69.2%	0.07
HAVELLS	77,109	47.2	22.9%	17.3%	0.00
VOLTAS	39,706	88.4	9.9%	6.9%	0.15
BLUESTARCO	30,172	59.3	18.7%	15.0%	0.18
AMBER	26,892	279.5	12.6%	5.4%	0.85
KAYNES	24,676	71.3	16.7%	12.2%	0.31
PGEL	16,496	80.1	11.7%	7.2%	0.11
AVALON	15,809	118.2	26.3%	21.9%	0.23
CROMPTON	15,132	—	-0.7%	-7.2%	0.00

🔗 Peer Stock Analyses

DIXON HAVELLS VOLTAS BLUESTARCO AMBER

⚠️ Risk Factors

1. Margin pressure from intense competition and pricing discipline in a crowded consumer durables market, despite management’s mitigation efforts. 2. Geopolitical and macroeconomic headwinds, including global slowdown risks and currency volatility, which management acknowledges but does not expect to derail FY27 targets. 3. Execution risk in scaling B2B and AMC businesses, which are new growth engines and may face operational or customer acquisition challenges. 4. Over-reliance on urban and semi-urban markets, with limited visibility into rural demand recovery.

📋 Recent Filings

🧠 Analyst's Read

LG Electronics India is executing a disciplined growth strategy with improving margins and strong quarterly performance, supported by strategic investments in manufacturing and export. Investors should monitor margin sustainability, B2B/AMC scalability, and rural demand trends in upcoming quarters to assess the durability of current growth momentum.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-01.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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